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Broker: Houston land prices are starting to stagnate amid oil slump

December 15, 2016

Suburban land prices are notoriously sticky.

Unlike the cost of construction materials or labor, land prices tend to respond more slowly to market conditions.

But two years into the oil slump, land prices are starting to flatten out a bit, said James Kadlick, vice president and Houston land specialist for McAlister Real Estate, a Houston-based land brokerage.

“In the last 12 months, we have seen a bit of price stagnation,” Kadlick said. “Land prices ticked up 50 to 75 percent over the past…